Schlumberger Limited. (NYSE:SLB) – Equities researchers at Piper Sandler reduced their FY2021 earnings per share (EPS) estimates for Schlumberger in a note issued to investors on Thursday, June 25th. Piper Sandler analyst B. Herbert now anticipates that the oil and gas company will earn $0.09 per share for the year, down from their previous estimate of $0.13. Piper Sandler has a “Neutral” rating and a $17.00 price objective on the stock.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 17th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.52 billion. Schlumberger had a positive return on equity of 7.88% and a negative net margin of 55.19%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS.
Several other research firms also recently issued reports on SLB. Susquehanna Bancshares cut their price objective on Schlumberger from $23.00 to $20.00 and set a “positive” rating on the stock in a report on Monday, April 20th. Cfra downgraded Schlumberger from a “hold” rating to a “sell” rating and dropped their target price for the company from $42.00 to $15.00 in a report on Monday, March 9th. HSBC upped their target price on Schlumberger from $17.10 to $18.10 and gave the company a “hold” rating in a report on Wednesday, June 24th. Stifel Nicolaus dropped their target price on Schlumberger from $34.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Citigroup dropped their target price on Schlumberger from $17.00 to $11.50 and set a “neutral” rating on the stock in a report on Friday, March 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Schlumberger has an average rating of “Hold” and a consensus price target of $23.16.
NYSE SLB opened at $18.39 on Monday. The stock’s 50-day moving average price is $18.75 and its two-hundred day moving average price is $25.27. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The company has a market cap of $25.52 billion, a PE ratio of -1.42, a PEG ratio of 20.55 and a beta of 2.10. Schlumberger has a 1 year low of $11.87 and a 1 year high of $41.40.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 2.72%. Schlumberger’s payout ratio is currently 34.01%.
In other news, General Counsel Alexander C. Juden sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.35, for a total value of $607,250.00. Following the completion of the sale, the general counsel now directly owns 92,103 shares of the company’s stock, valued at $1,597,987.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 14,822 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $19.19, for a total value of $284,434.18. Following the completion of the sale, the executive vice president now directly owns 54,750 shares of the company’s stock, valued at $1,050,652.50. The disclosure for this sale can be found here. Insiders have sold 84,290 shares of company stock valued at $1,506,249 in the last ninety days. Company insiders own 0.58% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Schlumberger during the fourth quarter worth $241,000. National Asset Management Inc. raised its stake in Schlumberger by 11.3% during the fourth quarter. National Asset Management Inc. now owns 12,279 shares of the oil and gas company’s stock worth $495,000 after acquiring an additional 1,249 shares in the last quarter. Western Wealth Management LLC raised its stake in Schlumberger by 12.1% during the fourth quarter. Western Wealth Management LLC now owns 6,787 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 734 shares in the last quarter. Chicago Equity Partners LLC raised its stake in Schlumberger by 3.1% during the fourth quarter. Chicago Equity Partners LLC now owns 17,565 shares of the oil and gas company’s stock worth $706,000 after acquiring an additional 525 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Schlumberger by 22.9% during the fourth quarter. Assetmark Inc. now owns 2,648 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 494 shares in the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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